Approving a Budget by Tenancy confirms the allocation amounts for each tenant, updates their rent or outgoings templates, and makes the budget available for reporting.
Step 1: Start the Approval
Open the budget and click Approve. Approval settings can be configured for all tenants at once or individually per tenant.
Step 2: Choose an Allocation Type
Single Line-Item Allocation — combines all allocations into one total amount on the tenant's invoice.
Multiple Line-Item Allocation — separates each allocation as its own line item with individual settings. Note: tenancies with a cap or collar limitation default to single line-item regardless of the type chosen.
Step 3: Configure the Templates
Choose whether to include or exclude tenancies without an allocation using the toggle in the approval settings.
Select the Chart of Account. The Tax Type defaults to the one linked to the account but can be adjusted.
The Description populates based on the allocation type chosen.
Decide whether to Add or Replace Line Items on the template.
Select the relevant Template against each tenancy — the Amount and Start Date auto-populate once selected.
Click Save All and Approve to approve the budget, save all allocations, and update templates.
Alternatively, Skip and Approve approves the budget without making template changes.
Budget by Tenancy is referred to as Budgeted Outgoings in Asia-Pacific, Service Charge in Europe, and Operating Expenses in North America. For more information on regional terminology, see our Glossary of Regional Terminology.